Elon Musk’s net worth tops $1,000 billion as SpaceX IPO sends shares surging more than 20%

A historic IPO

On Friday, June 12, 2026, SpaceX began trading on the New York Stock Exchange to massive investor demand. The stock opened at $150, an 11% jump from the offering price, before climbing more than 20% to $167.95 by 16:45 GMT. The offering raised at least $75 billion and could reach $86 billion if the green-shoe option is fully exercised, tripling the record set by Saudi Aramco in 2019.

“SpaceX wants to take you to the Moon, to Mars and, eventually, even further, and I’m confident that with the incredible team we have here at SpaceX, we will get you there.”

Elon Musk’s wealth milestone

The surge gave SpaceX a valuation of roughly $2.13 trillion and pushed Musk’s net worth above $1,000 billion for the first time, according to Bloomberg’s real-time billionaire index. Forbes estimated his fortune at $1,100 billion around the same time. The jump makes Musk the world’s first trillionaire, with a wealth that has nearly tripled from about $400 billion at the end of 2024 and was already around $835 billion in early June.

2024-12-31

400 $bn

2026-06-01

835 $bn

2026-06-12

1000 $bn

Data from the article text

What it means in context

Musk’s fortune now exceeds the combined net worth of the next three richest individuals — Larry Page, Sergey Brin and Jeff Bezos — and roughly matches the annual GDP of Switzerland or Poland, at about $1,040 billion in 2025 according to the IMF. However, the wealth is almost entirely tied to shares of SpaceX (about 42% ownership) and Tesla, making it highly sensitive to market swings. Analysts note that cashing out a large portion would likely depress the stocks.

Social media and investor buzz

Musk celebrated the IPO on X, the social media platform now owned by SpaceX, posting images of bankers wearing green shoes — a Wall Street tradition signalling exuberant demand for an IPO, often linked to the overallotment option. The company reserved a large portion of new shares for individual investors, many drawn by Musk’s vision of a conglomerate spanning rockets, artificial intelligence, satellite internet, chips and social networking.